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26th May 2014

Eco World unveils RM20.8bil projects

kuala lumpur: Eco World Development Group Bhd yesterday held a simultaneous preview of three new development projects in the Klang Valley and Iskandar Malaysia and its first business park in Iskandar with a total gross development value (GDV) of RM20.8bil.

The group’s first township in the Klang Valley is called EcoMajestic in Semenyih spanning some 1,089 acres with a GDV of RM11.14 bil while in the Tebrau corridor the developer launched Eco Spring and Eco Summer, a 613.8-acre mixed development with a combined GDV of RM5.87bil.

The developer also previewed its first Business Park called Eco Business Park I, which aims to take the concept of green full-serviced business parks to another level.

“The support we received for our first two project launches – EcoBotanic in Nusajaya, Johor and EcoSky located off Jalan Ipoh in Kuala Lumpur – has given us the confidence that there is strong demand for our properties,” said Eco World president and CEO Datuk Chang Khim Wah in a statement.

He explained that the ability of a property developer to deliver a strong and sustained growth was dependent on several factors which included the size, location and quality of its land bank, diversity of product offerings as well as its execution capability.

“For our first two projects, we received overwhelming response from local purchasers given that our initial launch products were targeted at the end-user market. In Iskandar Malaysia we have an increasing number of Singaporean customers and our business park will cater to the tremendous interest from SMEs and MNCs seeking to establish business here. We expect this trend to continue with demand growing at both the local and international level as the Eco World brand becomes more established in Malaysia and regionally,” he added.

The atmosphere at the launches was buzzing with more than 2,000 people gathering at the developer’s sales galleries in the Klang Valley and Johor Baru.

In the Klang Valley, many of EcoMajestic’s purchasers were impressed with the concept of the project as the township is the first in the Klang Valley of this size that has been planned from the onset as a fully strata titled gated and guarded development. The first launch of EcoMajestic will see the developer offering 612 units of terraced homes with varying sizes priced from RM586,000 onwards.

In Johor, the unveiling of the first phase of EcoSpring and EcoSummer with approximately 600 units in total available for sale attracted many young families and upgraders looking to live in a well-planned township.

To date, Eco World’s first two projects – EcoBotanic and EcoSky – had achieved a combined total sales of RM1.13bil as at March 31, 2014. The developer recently announced its sales target of RM2bil for the financial year 2014 (FY14) and RM3bil for FY15.

The group has another five projects still to be unveiled, namely EcoSanctuary in the Klang Valley, the newly-revamped EcoTropics, Eco Business Park II and Eco Business Park III in Iskandar, as well as EcoMeadows on mainland Penang. With all these projects, the group will be kept very busy over the next few years.